Collaborative Funding Models
What are collaborative funding models? Collaborative funding models pool funds from national or local foundations and philanthropists for organizations supporting similar goals, such as workforce development programs seeking to improve employment outcomes for disadvantaged populations. These funder alliances may encourage local workforce system stakeholders to identify challenges, work together to develop solutions (especially to systemwide issues), and combine resources to more strategically target resources.
Why are collaborative funding models useful? Collaborative funding models can ensure a more strategic and less siloed approach to addressing workforce challenges and promote collaboration across a system. They can also address resource gaps, where one funder does not have sufficient resources to reach the objective. In some cases, private philanthropic funds are pooled with public funds seeking to meet the same workforce goals.